Buy N Burn looks at the HIVE Engine Tokens Page

@buynburn is a project that transfers the HIVE and HBD earnings for posts to #hive-engine. The account uses these funds to buy and burn coins for struggling HE Tribes.

To make the project work, I need to occasionally write posts. To avoid accusations of spam, I write each post by hand.

Yep, that's right! Each post flows from my keyboard. This extra effort means the posts qualify for the #proofofbrain tag!

When I type I end up hitting the backspace key twice for each letter that manages to make it in the post.

I am really slaughtering that backspace key today.

Looking at the HE Tokens Page

For today's post I thought I would look at the Tokens Page on Hive Engine.

This page lists all of the tokens that have been created through the years. You will find coins used in games, NFTs, forum rewards and comment rewards. There are also numerous SWAP coins used for transferring coins between platforms.

The SWAP coins are one of the most valuable features of HIVE. HIVE is a place where people can trade their crypto free of transaction fees.

The page shows all tokens on the platform.

You can sort the tokens by 24 hour activity, price, supply or "market cap."

The "24 Hour Activity" is one of the most informative columns in that it shows which coins are the most popular. The column does not show swaps. In many cases the diesel pools on TribalDex processes more transactions than the exchange.

The "price column" in the table can be misleading as there is often a huge gap between the BID and ASK price. The price will jump up and down depending on the type of the last transaction.

The "Market Cap" column shows the current price of the coin multiplied by supply.

The reported "market cap" is a bit misleading as some of the coins include the reward accounts. Some of the tribes hold other coins as assets. The market cap is not an accurate indicator of the assets owned by a tribe nor is it a perfect indicator of revenue opportunies of the tribe.

I say this to emphasize that the table simply lists projects on HIVE. It is not a great tool for analyzing investments.

To research tribal coins, you should examine the coin's richlist, the forums associated with the coin and one should examine the distribution account for each coin.

For this post I sorted the token's listing by "market cap" and display a few of the tribal tokens that I am following. (NOTE: I did this yesteray.)

Token	Market Cap	Price USD	Volume USD	Supply
LEO	$764,681	$0.04397	$218	17,390,977
WAIV	$512,041	$0.04700	$31	10,894,505
LIST	$307,340	$0.00062	$0	495,710,776
BEE	$306,196	$0.11124	$209	2,752,577
NEOXAG	$26,301	$0.00036	$1	73,060,354
WEED	$26,202	$0.00059	$0	44,411,193
POB	$23,068	$0.00306	$9	7,538,811
ALIVE	$14,578	$0.00703	$32	2,073,744
CENT	$11,999	$0.00110	$11	10,908,626
CCC	$6,134	$0.00025	$1	24,538,261
COM	$5,215	$0.00258	$0	2,021,372
PAL	$4,395	$0.00009	$0	48,843,439
BPC	$3,833	$0.00021	$30	18,254,157
ARCHON	$3,268	$0.00459	$0	712,059
STEM	$2,842	$0.00095	$0	2,991,660
VYB	$2,401	$0.00034	$2	7,064,052
CTP	$2,132	$0.00030	$2	7,109,878
FOODIE	$1,321	$0.00004	$0	33,037,711
MEME	$1,184	$0.00002	$1	59,224,809
PHOTO	$1,097	$0.00009	$0	12,196,926
VKBT	$549	$0.00061	$1	900,229
MUSIC	$429	$0.00064	$1	671,029

There are several hundred coins. I have not researched most of the coins as it takes a long time with little reward.

The table shows a "market cap" of 0 when the price of the coin is less than $0.00001. There are active tribes with tokens in this category such as PEPE, PAY and TIX.

The venerable PEPE token is trading at 0.0000078. The supply is 359,120,104 coins creating a market cap of $2,801.

I wrote this post to point out that the most of the tribal coins had ridiculous "market caps" during their IPO. A few of the coins have a decent distribution and became decent investments after the crash.

The low market caps shows that an investment of just a few dollars can establish an account as a dolphin in many of these tribes.

Conclusion

The @buynburn account uses the HIVE and HBD from posts to buy and later burn tokens on HE. I am concentrating on struggling coins. The act of buying coins on HE helps improve the trade volume for the coins.

Looking at the low market cap for many of the coins it is apparent that buying and burning a few dollars worth of coins could help stabilize the price of low valued coins and improve the HIVE ecosystem.

After publishing this post, I will burn 102 #POB. This will make a small reduction in the float of the coin and reduce the market cap by a HIVE.

If the post receives upvotes, I will be able to burn more. Let me know in the comments that coins that you would like to see burned.

Posted using Proof of Brain